Uruguay to Buy Back Global, Local Debt (1)

Uruguay has launched a tender offer for $436m in 10 international series of dollar and Euro denominated bonds. It will pay cash for both of the tender offers, which run through December 7. The government did not set any minimum size for the deal, but can terminate the offer early if the total amount of bonds tendered reaches $200m. The eight dollar issues range from 2008 to 2012 maturities paying interest of 7.000%-8.375%. The Euro bonds up for tender are the 7% of 2011 and 7% of 2012 issues. Separately, Uruguay announced a tender offer for up to $300m of $1.55bn in 24 series of dollar-and inflation index-denominated domestic bonds. Citi is dealer manager on both tenders.